Sterlite Tech QIP closes at Rs 583.01, 5% discount to floor price

Qip At DiscountFund Raising View source PDF

STLTECH · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-7.7%1-day move

₹607.95

prior close

₹610.00

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-2.1-2.3-2.2-2.5-7.7-4.9-3.6-8.6-13.1-11.0-10.5———

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AI summary

Sterlite Technologies closed its QIP, allotting 2.57 crore equity shares at Rs 583.01 per share, about 5% below the floor price of Rs 613.69. Total issue size is around Rs 1,500 crore. Funds were received from eligible QIBs. The placement document is available on the company website.

Likely market impact

Equity dilution of about 7% may weigh on stock short-term, though Rs 1,500 cr raise strengthens balance sheet for growth.